Infrastructure Development Company Limited (IDCOL) extends Tk270 crore long-term loan to Crown Cement PLC, and in this regard, a loan agreement has been inked between IDCOL and Crown Cement at the capital's The Westin Dhaka.
Under this facility, IDCOL is providing a concessional loan to establish the sixth manufacturing unit of Crown Cement, according to a press release.
This new unit will integrate Vertical Roller Mill (VRM) technology which happens to be the most energy-efficient technology in the cement manufacturing industry.
The VRM is expected to save 163 GWh of energy compared to traditional ball mills over the loan tenure. IDCOL has so far extended financing worth Tk1,370 crore to various industrial sectors for promoting different energy-efficient initiatives.
IDCOL, a government-owned non-banking financial institution is the country's leading financier in the private sector infrastructure, renewable energy, and energy efficiency sectors.
IDCOL plays a significant role in catalysing private sector investment across these segments.
The signing ceremony was attended, among others, by Mohammed Jahangir Alam, chairman of Crown Cement; Molla Mohammad Majnu, managing director, Crown Cement; Monira Sultana, chairman, SREDA; Zaki Md Ziaul Islam, senior program manager, JICA Bangladesh Office, Alamgir Morshed, executive director and CEO, IDCOL, and Nazmul Haque, chief investment officer, IDCOL.